Collaborative Robot market size to grow at a CAGR of 8.2% by 2029

By OEM Update Editorial August 9, 2023 6:46 pm IST

Revolutionizing work dynamics, collaborative robots enhance productivity by seamlessly integrating humans and machines. Asia-Pacific dominates the market, while key players like Universal Robots and ABB drive innovation.

Collaborative robots, or cobots, are a unique type of robotics designed to seamlessly interact with humans in shared workspaces. They enable a harmonious collaboration between robots and humans on production lines, eliminating the need for restrictive barriers or enclosures. This innovation maximizes both the efficiency of robots and the intelligence of humans, effectively combining their strengths. These machines strike a balance between ensuring safety and fulfilling the need for adaptable productivity.

Collaborative Robot Market Share

Asia-Pacific is the largest market with about 54% market share. Europe is follower, accounting for about 29% market share.

The key players are Universal Robots, ABB, Rethink Robotics, Kawasaki, KUKA, FANUC etc. Top 3 companies occupied about 74% market share.

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Source: https://reports.valuates.com/market-reports